SINGAPORE—Yokohama Rubber Co. Ltd. has established a subsidiary in Singapore with the goal of purchasing natural rubber from Southeast Asian nations.
The new subsidiary, Yokohama Rubber Singapore Pte. Ltd., initially will procure NR for Yokohama's plants in Japan but will expand to source NR for the firm's plants outside of Japan starting next year, YRC said.
Capitalized at $20 million, the new company replaces a branch office Yokohama has had in Singapore and is expected to raise the efficiency of the tire maker's raw materials procurement function on a global basis as well as strengthen raw materials inventory controls.
Yokohama named Shigeo Komatsu, a director and managing corporate officer, president of the new subsidiary. Komatsu also is in charge of corporate finance and accounting and is president of Yokohamagomu Finance Co. Ltd.